NRG Energy (NYSE:NRG) Rating Lowered to Neutral at Bank of America

NRG Energy (NYSE:NRGGet Rating) was downgraded by analysts at Bank of America from a “buy” rating to a “neutral” rating in a research report issued to clients and investors on Thursday, MarketBeat.com reports. They presently have a $43.00 target price on the utilities provider’s stock, down from their prior target price of $47.00. Bank of America‘s price objective indicates a potential upside of 13.43% from the company’s previous close.

Several other research analysts have also issued reports on the stock. UBS Group lowered shares of NRG Energy from a “buy” rating to a “neutral” rating and reduced their target price for the company from $44.00 to $42.00 in a research note on Wednesday, January 5th. Evercore ISI reissued a “hold” rating and set a $42.00 price objective on shares of NRG Energy in a research note on Friday, February 25th. Finally, StockNews.com initiated coverage on shares of NRG Energy in a research note on Thursday, March 31st. They set a “hold” rating on the stock. One analyst has rated the stock with a sell rating, four have given a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, NRG Energy has an average rating of “Hold” and an average target price of $42.67.

Shares of NYSE:NRG opened at $37.91 on Thursday. The firm has a market cap of $9.18 billion, a P/E ratio of 4.25, a P/E/G ratio of 0.56 and a beta of 0.92. The company has a quick ratio of 1.31, a current ratio of 1.37 and a debt-to-equity ratio of 2.21. NRG Energy has a 12 month low of $31.94 and a 12 month high of $46.10. The company’s 50-day moving average price is $38.27 and its two-hundred day moving average price is $39.11.

NRG Energy (NYSE:NRGGet Rating) last issued its earnings results on Thursday, February 24th. The utilities provider reported ($0.97) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.34) by $0.37. The company had revenue of $7.05 billion for the quarter, compared to analyst estimates of $1.21 billion. NRG Energy had a net margin of 8.10% and a return on equity of 64.00%. As a group, equities analysts predict that NRG Energy will post 6.7 earnings per share for the current fiscal year.

Institutional investors have recently made changes to their positions in the company. Freemont Management S.A. bought a new stake in shares of NRG Energy in the third quarter valued at about $13,388,000. Advisor Group Holdings Inc. boosted its position in shares of NRG Energy by 6.1% in the third quarter. Advisor Group Holdings Inc. now owns 44,025 shares of the utilities provider’s stock valued at $1,798,000 after acquiring an additional 2,514 shares during the period. State of Michigan Retirement System raised its stake in NRG Energy by 8.9% in the fourth quarter. State of Michigan Retirement System now owns 73,218 shares of the utilities provider’s stock valued at $3,154,000 after purchasing an additional 5,982 shares in the last quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. raised its stake in NRG Energy by 14.7% in the third quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 103,409 shares of the utilities provider’s stock valued at $4,222,000 after purchasing an additional 13,263 shares in the last quarter. Finally, Strategic Global Advisors LLC acquired a new position in NRG Energy in the third quarter valued at about $2,298,000. 96.72% of the stock is owned by institutional investors.

About NRG Energy (Get Rating)

NRG Energy, Inc, together with its subsidiaries, operates as an integrated power company in the United States. It operates through Texas, East, and West. The company is involved in the producing, selling, and delivering electricity and related products and services to approximately 6 million residential, commercial, industrial, and wholesale customers.

Recommended Stories

Analyst Recommendations for NRG Energy (NYSE:NRG)

Receive News & Ratings for NRG Energy Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for NRG Energy and related companies with MarketBeat.com's FREE daily email newsletter.